Code of Ethics

When is the Effectivity of the Approval of the Code of Ethics and Responsibilities of Real Estate Service Practitioners?

• May 6, 2019

• July 29, 2019

• August 14, 2019

• June 30, 2019

Code of Ethics and Responsibilities for Real Estate Service Practitioners

• PRBRES Resolution 39 series of 2019

• PRBRES Resolution 39 series of 2009

• PRBRES Resolution 29 series of 2019

• PRBRES Resolution 29 series of 2009

Keeping abreast of the latest trends and developments in the field of real estate service through the involvement in Continuing Professional Development activities.

• To the Government

• To the General Public

• To the Client

• To the AIPO

The power to adopt the Code of Ethics and Responsibilities, under the RESA, shall be under the

• Professional Regulation Commission

• Accredited and Integrated Professional Organization

• Professional Regulatory Commission

• Professional Regulatory Board of Real Estate Service

Who Attested the Code of Ethics and Responsibility for Real Estate Service Practitioners?

• Pilar M. Torres-Banaag

• Yolanda D. Reyes

• Atty. Lovelika T. Bautista

• Jose Y. Cueto, Jr.

When a licensed broker accepts a listing from a fellow practitioner, he follows three conditions clearly stated in the code of ethics. Which one of the following is not a condition to be followed?

• The agency of the broker who offers the listing should be respected until it has expired and the listing comes to his attention from a different source.

• The agency of the broker who offers the listing should be respected until the owner, without solicitations, offers to list with hint.

• The agency of the listing broker should be respected perpetually in all dealings with his client/principal.

• The listing should not be passed to a third broker without the knowledge and consent of the listing broker

Section 6 of Article I. - Declaration of Principles of the Code of Ethics for Realty Service Practitioners clearly states the Golden Rule which says…

• Treat others as you like them to treat you

• Do unto others as you would have them do unto you

• Treat other if you want them to

• Do unto others what you want them to do

Three of the four enumerated acts of a broker are considered unethical. Which act is not unethical?

• Encouraging the parties to a sale to indicate a consideration lower than the actual selling price

• Keeping a special bank account, separate and distinct from his own funds, for all money receive in trust for other person such as client's money and similar items

• Disclosing his client confidential person information to a fellow broker in order to facilitate the sale of his client's property

• Delaying submission of a formal offer the had received from a prospective buyer in title hope of securing a higher offer

This code of Ethics and Responsibilities shall take effect following its publication in the Official Gazette or any newspaper of general circulation in the Philippines.

• After (15) days

• After (30) days

• On the 15th day

• On the 30th day

As to their relation with the government, the practitioner is NOT required to secure the following:

• Permits

• License

• Authority to pay surety bond

• Required registration